Managing Partner Agreement for India

Managing Partner Agreement Template for India

A comprehensive legal agreement governed by Indian law that establishes and regulates the relationship between a managing partner and other partners in a partnership firm. The document outlines the managing partner's appointment, powers, duties, compensation, and operational authority while ensuring compliance with the Indian Partnership Act, 1932, and other relevant Indian legislation. It includes detailed provisions for decision-making authority, profit sharing, performance expectations, and dispute resolution mechanisms, tailored to meet the specific needs of Indian partnership structures and business practices.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Managing Partner Agreement

Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc

What is a Managing Partner Agreement?

The Managing Partner Agreement is a crucial document for partnership firms operating in India that wish to formalize their management structure and delegate significant operational authority to a single partner. This agreement becomes necessary when partners decide to establish clear leadership and management hierarchies within their partnership, typically in growing firms or during succession planning. The document, governed by Indian partnership and contract law, comprehensively addresses the managing partner's role, including decision-making powers, profit sharing arrangements, duties, and responsibilities. It's particularly important for professional services firms and other partnerships where day-to-day management requires centralized authority. The agreement helps prevent future disputes by clearly documenting the terms of the managing partner's appointment, compensation structure, and the extent of their authority, while ensuring compliance with Indian legal requirements and business practices.

What sections should be included in a Managing Partner Agreement?

1. Parties: Identification of all parties to the agreement, including the managing partner and other partners

2. Background: Context of the agreement, history of the partnership, and purpose of appointing the managing partner

3. Definitions: Defined terms used throughout the agreement

4. Appointment and Term: Formal appointment of the managing partner, duration of appointment, and renewal terms

5. Powers and Duties: Comprehensive list of managing partner's authorities, responsibilities, and obligations

6. Decision Making Authority: Scope of independent decision-making power and matters requiring partner consultation

7. Financial Provisions: Compensation structure, profit share, expenses, and financial responsibilities

8. Time Commitment: Expected time dedication and restrictions on other business activities

9. Confidentiality: Obligations regarding confidential information and trade secrets

10. Non-Competition: Restrictions on competing activities during and after the term

11. Reporting Requirements: Regular reporting obligations to other partners

12. Termination: Grounds for termination, notice periods, and consequences

13. Post-Termination Obligations: Continuing obligations and restrictions after agreement ends

14. Governing Law and Jurisdiction: Applicable law and jurisdiction for dispute resolution

What sections are optional to include in a Managing Partner Agreement?

1. Intellectual Property Rights: Specific provisions for IP ownership and usage when the partnership involves significant IP assets

2. International Operations: Additional provisions for partnerships operating across multiple jurisdictions

3. Key Performance Indicators: Specific performance metrics and targets when performance-based compensation is involved

4. Professional Indemnity: Additional protection clauses for professional services partnerships

5. Succession Planning: Provisions for managing partner succession in larger or family-owned partnerships

6. Digital Assets Management: Specific provisions for partnerships with significant digital presence or online operations

What schedules should be included in a Managing Partner Agreement?

1. Schedule 1 - Compensation Structure: Detailed breakdown of managing partner's compensation, including fixed pay, profit share, and bonus calculations

2. Schedule 2 - Specific Powers and Authorities: Detailed list of specific powers delegated to the managing partner

3. Schedule 3 - Partnership Assets: List of key partnership assets under managing partner's control

4. Schedule 4 - Reporting Templates: Standard formats for required periodic reports

5. Schedule 5 - Key Performance Metrics: Detailed performance evaluation criteria and calculation methods

6. Appendix A - Conflict Resolution Procedure: Step-by-step process for resolving disputes between managing partner and other partners

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

India

Publisher

Genie AI

Cost

Free to use
Relevant legal definitions
Clauses
Relevant Industries

Professional Services

Legal Services

Accounting and Tax

Management Consulting

Architecture

Engineering Services

Healthcare Services

Real Estate

Information Technology

Financial Services

Relevant Teams

Legal

Corporate Governance

Executive Leadership

Operations

Finance

Human Resources

Compliance

Risk Management

Business Development

Administrative

Relevant Roles

Managing Partner

Senior Partner

Executive Partner

Partnership Director

Chief Executive Partner

Managing Director

Legal Counsel

Corporate Lawyer

Partnership Manager

Business Development Manager

Operations Director

Finance Director

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Non Profit Organization Partnership Agreement

A partnership agreement between non-profit organizations under Indian law, establishing terms for collaboration and shared charitable objectives.

find out more

Model Partnership Agreement

A standardized partnership agreement template compliant with Indian law, establishing terms and conditions for business partnerships.

find out more

Memorandum Of Understanding For Partnership

An Indian law-compliant preliminary agreement outlining key terms and conditions for establishing a business partnership, serving as a precursor to a formal Partnership Deed.

find out more

Law Firm Partnership Deed

An Indian law-governed partnership agreement that establishes and regulates a law firm's structure, operations, and partner relationships.

find out more

General Partnership Deed

A legal document under Indian law establishing a partnership between two or more persons to conduct business together and share profits.

find out more

Agreement For Partnership Deed

An Indian law-compliant legal document that establishes and governs a business partnership, defining partners' rights, duties, and operational framework.

find out more

Software Implementation Partner Agreement

An Indian law-governed agreement detailing terms and conditions for software implementation services between an implementation partner and client organization.

find out more

Sleeping Partnership Agreement

An Indian law-governed agreement establishing a partnership where certain partners contribute capital without participating in business operations.

find out more

Sleeping Partner Partnership Deed

An Indian law-governed partnership deed establishing the rights and obligations of sleeping (non-managing) and active partners in a business venture.

find out more

Referral Partnership Agreement

An Indian law-governed agreement establishing terms and conditions for business referral partnerships, including commission structures and operational procedures.

find out more

Realtor Partnership Agreement

An Indian law-governed agreement establishing a partnership between real estate professionals, ensuring RERA compliance and detailing operational framework.

find out more

Real Estate Joint Venture Proposal

An Indian law-governed proposal document outlining terms and conditions for a real estate development joint venture, including project specifications, financial arrangements, and regulatory compliance requirements.

find out more

Proposal For Joint Venture Letter

A formal business letter used in India to propose and initiate discussions for a potential joint venture partnership, outlining preliminary terms and structure under Indian law.

find out more

Petrol Pump Partnership Agreement

An Indian law-governed agreement establishing a partnership for operating a petrol pump business, detailing operational, financial, and regulatory requirements.

find out more

Partnership Deed For Transport Business

An Indian law-governed partnership agreement establishing a transport business venture, detailing partner rights, responsibilities, and operational procedures.

find out more

Partnership Deed For Petrol Pump

An Indian law-governed partnership agreement for establishing and operating a petrol pump business, outlining partner rights, responsibilities, and operational procedures.

find out more

Partnership Deed For LLP

An Indian legal document establishing the terms and conditions between partners in a Limited Liability Partnership (LLP), governed by the LLP Act, 2008.

find out more

Partnership Deed For Film Production

An Indian law-governed partnership agreement for film production ventures, detailing partner rights, responsibilities, and profit-sharing arrangements.

find out more

Partnership Deed Construction Business

A legal agreement under Indian law establishing a partnership for construction business operations, defining partner relationships and business terms.

find out more

Partnership Deed Between Three Partners

An Indian law-governed agreement establishing a three-partner business partnership, defining rights, responsibilities, and operational framework under the Indian Partnership Act, 1932.

find out more

Partnership Agreement Proposal

A formal proposal for establishing a business partnership under Indian law, outlining key terms and conditions for potential partners' consideration.

find out more

Private Limited Company Partnership Agreement

An Indian law-governed agreement establishing partnership terms and conditions between shareholders in a private limited company, outlining rights, responsibilities, and operational framework.

find out more

Partnership Agreement For Hotel Business

An Indian law-governed agreement establishing a partnership structure for hotel business operations, including operational, financial, and management provisions.

find out more

Technology Partner Agreement

An Indian law-governed agreement establishing terms and conditions for technology service partnerships between providers and client organizations.

find out more

Venture Capital Partnership Agreement

An Indian law-governed agreement establishing a venture capital partnership structure, defining relationships between fund managers and investors while ensuring regulatory compliance.

find out more

Non Binding Partnership Agreement

A preliminary agreement under Indian law that outlines proposed partnership terms while maintaining a non-binding status, allowing parties to negotiate and explore collaboration possibilities.

find out more

Letter For Partnership Agreement

An Indian legal document establishing a partnership arrangement between parties, outlining key terms and conditions under Indian Partnership Act requirements.

find out more

Salon Business Partnership Agreement

An Indian law-governed agreement establishing a partnership structure for operating a salon business, including operational, financial, and regulatory terms.

find out more

Rent Agreement For Partnership Firm

An Indian law-governed rental agreement specifically designed for partnership firms leasing property for business purposes, incorporating partnership-specific legal requirements and standard rental terms.

find out more

Partnership Deed For Real Estate Business

An Indian law-governed partnership deed establishing terms and conditions for a real estate business partnership, incorporating RERA compliance requirements.

find out more

Reseller Agreement For Software Products

An Indian law-governed agreement establishing terms for software distribution through authorized resellers, including licensing, sales rights, and operational requirements.

find out more

Real Estate Agent Partnership Agreement

An Indian law-governed agreement establishing a partnership between real estate agents/firms, ensuring RERA compliance and defining operational framework.

find out more

Partnership Deed For Hotel Business

A legal agreement under Indian law establishing a partnership structure for hotel business operations, defining partner relationships and business management terms.

find out more

Authorized Reseller Agreement

An Indian law-governed agreement establishing terms and conditions between a manufacturer/principal and authorized reseller for product distribution and resale.

find out more

Joint Venture Proposal

An Indian law-governed proposal document outlining the key terms and structure of a proposed joint venture between multiple parties, serving as the foundation for detailed negotiations.

find out more

Short Partnership Agreement

A concise partnership agreement template compliant with Indian law, establishing core terms and conditions for business partnerships.

find out more

Social Media Partnership Agreement

An Indian law-governed agreement establishing terms and conditions for social media partnerships, including content creation, compliance, and commercial terms.

find out more

Partnership Deed

An Indian law-governed agreement establishing a partnership between two or more parties, defining their rights, responsibilities, and business relationship under the Indian Partnership Act, 1932.

find out more

Online Business Partnership Agreement

An Indian law-governed agreement establishing partnership terms for online business operations, including digital assets, operations, and compliance requirements.

find out more

Buy Sell Agreement Between Business Partners

An Indian law-governed agreement establishing terms for transfer of business ownership interests between partners, including valuation and execution procedures.

find out more
See more related templates

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it

2 Docs LeftAccess Now